With the U.S. economy humming along, inflation expectations are rising, and investors are turning back to exchange traded funds that track Treasuries tied to the cost-of-living increases.

The 12 ETFs that track Treasury Inflation Protected Securities saw $399 million in inflows over March, the first time combined inflows surpassed redemptions since August 2012, Bloomberg reports.

Some bond market investors anticipate consumer demand will be strong enough to fuel inflation toward the Fed’s 2% target. [6 Ways to Fight Inflation with ETFs]

Consequently, investors are taking a second look at TIPS as inflation expectations rise on a government report that revealed hourly earnings among U.S. workers in February rose higher than what economists predicted. The wage growth could lead to more consumer spending.

“Inflation is coming,” Michael Pond, the head of global inflation-linked research at Barclays Plc, said in the article. We’re starting to break “free from some of the deflationary shackles of last year. The labor market is picking up, which will cause wages to pick up.”

So far this year, TIPS have gained 2.8%, with yields on the benchmark 10-year TIPS dipping 0.31 percentage points this year to 0.49%. Bond prices and yields have an inverse relationship, so falling yields typically correspond with rising bond prices. [Alternative Treasury ETFs]

In comparison, TIPS slid 9.4% in 2013, the worst annual decline since the securities were introduced in 1997.

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